After the success of Bored Ape Yacht Club and CryptoPunks there's a new NFT collection making headlines: Cereal Club. Illustrations of small colourful cereal bowls are a big new thing in the world of NFTs, and we kinda of love the look of them.
Cereal Club sold out its whitelist collection of 10,000 NFTs just 24 hours after selling out the public auction. The success comes with a caveat, as the original Dutch auction price of 1 Ethereum was slashed by 50% – which is how these auctions work, the price drops until buyers decide its right and jump in. This helped sales but hasn't dampened the hype. There was due to be a public sale on 17 February but it's been cancelled as the Cereal Club NFT collection has completely sold out. Is this the hipster takeover of NFTs?
Owners of Cereal Club NFTs can view their one-of-a-kind avatar on the cover of a physical cereal box, which will only be available to club members. The virtual and physical worlds mix as Cereal Club owners can look at their art as they eat, and dip inside the box to collect virtual 'treatz' – a redeemable prize and AR experience unique to them.
The success of Cereal Club could be put down to its charming colourful illustrations, but it's also because this NFT acts as a proper club – 135 Ethereum from the NFT sale is being put aside to fund web3 and arts projects close to the hearts of owners. Also, Cereal Club owners can vote on charitable donations to be made to local good causes.
Want to know more about NFTs? Don’t miss Vertex Week 2022, the ultimate virtual event for the digital art community. We'll be joined by Bored Ape Yacht Club member Jace Kay who will discuss the importance of music NFTs in 2022, and Chris Petrocchi who will share how to promote your NFTs the right way.
Read more:
- Know who's buying NFTs to successfully sell your art
- How to make and sell an NFT
- NFT drops: Everything you need to know
